Methode Electronics will report its Q2 earnings Wednesday afternoon, with analysts expecting revenue to decline 1% year on year, an improvement from the 7% drop in the same quarter last year. The company beat revenue expectations last quarter with $298.1 million, up 15.9% year on year, and also impressed with EBITDA estimates and full-year guidance. Analysts have generally reconfirmed their estimates over the past 30 days, though Methode has missed revenue estimates multiple times in the last two years. Peers Atkore and Allegion have already reported strong Q2 results, with Atkore beating expectations by 4.7% and Allegion by 3.1%, and their stocks rose 28.2% and 9.6% respectively. Methode's stock is up 29.7% over the last month, trading at $18.26, with an average analyst price target of $22.
Methode Electronics IncQ2 earnings preview with expected revenue decline, but prior beat and guidance; stock up 29.7%.
Allegion PLC
Atkore International Group Inc